An RV park in Texas sits empty due to the downturn in oil jobs in the Eagle Ford shale area Associated Press A global oil glut led to the slump in oil prices over the last year. Yet some in the industry believe the turnaround could come much quicker than markets expect. Glencore chairman and Genel CEO Tony Hayward is particularly bullish. Though he thinks the oversupply in the market would likely take a year or two to work off, he predicts that cuts to oil companies’ capital spending are laying the seeds for the next oil price bull market. “The supply chain in the U.S. is being decimated,” Mr. Hayward said. U.S. shale oil production, the source of the current battle among producers for market share, is expected to be flat this month and will decline next month for the first time in 4.5 years, he told the […]